Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Stake Reduced by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC trimmed its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 45.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 900,044 shares of the transportation company's stock after selling 737,162 shares during the period. Ceredex Value Advisors LLC owned 0.56% of Knight-Swift Transportation worth $48,557,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KNX. Interval Partners LP grew its position in Knight-Swift Transportation by 8,520.1% during the second quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company's stock valued at $64,547,000 after acquiring an additional 1,278,011 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Knight-Swift Transportation by 1,728.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company's stock worth $66,440,000 after purchasing an additional 1,258,157 shares during the period. Dimensional Fund Advisors LP increased its position in Knight-Swift Transportation by 27.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company's stock worth $271,121,000 after purchasing an additional 1,176,069 shares in the last quarter. Millennium Management LLC raised its holdings in Knight-Swift Transportation by 309.7% in the second quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company's stock valued at $53,331,000 after buying an additional 807,572 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Knight-Swift Transportation by 10.9% during the second quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company's stock valued at $379,133,000 after buying an additional 744,412 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on KNX shares. Bank of America increased their price objective on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Citigroup began coverage on Knight-Swift Transportation in a research note on Wednesday, October 9th. They set a "neutral" rating and a $55.00 price objective on the stock. Susquehanna increased their target price on Knight-Swift Transportation from $45.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. boosted their price target on Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, July 25th. Finally, Evercore ISI upped their price target on Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an "in-line" rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.94.

Knight-Swift Transportation Stock Performance

Knight-Swift Transportation stock traded up $0.85 during mid-day trading on Friday, reaching $52.93. The company's stock had a trading volume of 1,552,014 shares, compared to its average volume of 2,070,404. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 230.14, a PEG ratio of 1.89 and a beta of 0.93. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $60.99. The business has a 50 day moving average price of $52.15 and a 200-day moving average price of $50.42. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.31.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The company's revenue for the quarter was down 7.1% compared to the same quarter last year. Sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.06 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Friday, September 6th. Knight-Swift Transportation's dividend payout ratio (DPR) is 278.27%.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $53.49, for a total value of $304,679.04. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the completion of the transaction, the director now directly owns 21,833 shares in the company, valued at approximately $1,164,135.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael K. Liu sold 5,696 shares of Knight-Swift Transportation stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total value of $304,679.04. The disclosure for this sale can be found here. Insiders sold 55,196 shares of company stock worth $2,857,969 in the last 90 days. 3.00% of the stock is currently owned by company insiders.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.